The Kenya Capital Markets Authority has approved Renaissance Capital Kenya’s short form prospectus for global depository receipts, enabling eligible Kenyan investors to participate in the initial public offering of Nigeria based Dangote Petroleum Refinery & Petrochemicals. The offering closes on Oct. 13, 2026, and is the first such transaction since Kenya issued policy guidance on global depository receipts and notes. Renaissance Capital Kenya will establish custodial arrangements for investor funds and, after the offering closes and shares are allocated, structure the receipts for listing on the Nairobi Securities Exchange. The listing remains subject to approval from Nigeria’s Securities and Exchange Commission, a successful fundraising and allocation of sufficient underlying shares. The offering does not cover the Dangote East African Petroleum Refinery and Petrochemicals project in Lamu County, and the authority cautioned that its approval is not an investment recommendation.
Kenya Capital Markets Authority approves prospectus for first global depository receipt transaction under Kenya guidance
The Kenya Capital Markets Authority has approved a prospectus allowing eligible Kenyan investors to participate in the Dangote Petroleum Refinery & Petrochemicals initial public offering through global depository receipts. The receipts are expected to list on the Nairobi Securities Exchange after a successful fundraising, allocation of underlying shares and Nigerian regulatory approval.